Management Incentive Program (MIP) Sample Clauses

The Management Incentive Program (MIP) clause establishes a framework for rewarding key management personnel based on the achievement of specific performance targets or milestones. Typically, this clause outlines the eligibility criteria, the nature and timing of incentives—such as cash bonuses, equity awards, or profit-sharing—and the conditions under which these incentives are granted or forfeited. By clearly defining how and when management can earn additional compensation, the MIP clause motivates executives to align their efforts with the company’s strategic goals and helps attract and retain top talent.
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Management Incentive Program (MIP). As an additional Separation Payment to those provided for in Section 2 hereof, the Officer will participate in the 2013 MIP. For such period, the Officer’s payment shall be based upon the Officer’s current salary, target percentage level and Company performance. This payment will be made to Officer during the first quarter of 2014, when executive MIP bonuses are paid. Officer will not be eligible for any MIP or other cash incentive award other than the above referenced amounts or for any other periods following the Separation Date.
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Management Incentive Program (MIP). As additional separation payments, the Officer will participate in the 2004 and 2005 MIP program. Officer’s payments shall be based upon the Officer’s current salary and target level, adjusted for company performance and shall include a calculation taking into account the “30% personal objective” component. Calculation of this component shall be based upon the average earned by employees in Leadership Bands A-D. Officer’s 2005 MIP payment shall be pro-rated at a rate of 10/12th. Each year’s award will be paid during the first quarter of the subsequent year. The Officer will not be eligible for any award with respect to years after 2005.
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Management Incentive Program (MIP). As an additional Separation Payment to those provided for in Section 2 hereof, the Officer will participate in the 2004 MIP program on a four-twelfths (4/12) pro rata basis for the period of June 14, 2004 through the Resignation Date. For such period, the Officer’s payment shall be based upon (i) the Officer’s current salary and target percentage level, (ii) adjusted for Company performance, and (iii) shall include a calculation taking into account the “30 % personal objective” component as hereafter provided. Calculation of the “30 % personal objective” component shall be based upon the average percentage of salary under such component earned by employees in Leadership Bands A-D. This payment will be made to Officer during the first quarter of 2005, when executive MIP bonuses are paid. The Officer will not be eligible for any MIP or other cash incentive award other than the above referenced amount or for any period following the Resignation Date.
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Management Incentive Program (MIP). As additional Separation Payments to those provided for in Section 2 hereof, the Officer will participate in the 2004 MIP program on a nine-twelfths (9/12ths) pro rata basis for the period of January 1, 2004 through September 30, 2004. Thereafter, Officer shall receive MIP payments corresponding to the MIP payment associated with his Twenty-Four months of Separation Pay on a pro-rated basis for the period from October 1, 2004 through September 30, 2006. For each applicable fiscal year under this Section 3(f), the Officer’s payments shall be based upon (i) the Officer’s current salary and target percentage level, (ii) adjusted for Company performance, and (iii) shall include a calculation taking into account the “30% personal objective” component as hereafter provided. Calculation of the “30% personal objective” component shall be based upon the average percentage of salary under such component earned by employees in Leadership Bands A-D. Each year’s award will be paid during the first quarter of the subsequent year, when executive MIP bonuses are paid. The Officer will not be eligible for any MIP or other cash incentive award other than the above referenced amounts or for any period following the Severance Termination Date.
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Management Incentive Program (MIP). As an additional payment to those provided for in Section 2, the Officer received a full MIP payment for the year 2022 as well as participate and will receive a 7/12ths pro-rata MIP payment for the year 2023. For such periods, the Officer's payment shall be based upon the Officer's current salary, target percentage level and adjusted for Company performance. These payments have been and will be made to Officer during the first quarter of 2023 and 2024 at the time when such payments are made to other Program participants in accordance with the terms of the MIP. Officer will not be eligible for any MIP or other cash incentive award other than the above referenced amounts or for any other periods following the Transition Date.
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Related to Management Incentive Program (MIP)

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • Incentive Programs During the Term of Employment, the ------------------ Executive shall be entitled to participate in any annual and long-term incentive programs adopted by the Company and which cover employees in positions comparable to that of the Executive.

  • Long Term Incentive Plan The Executive shall be entitled to participate in the Company’s long-term incentive plan in accordance with its terms that may be in effect from time to time and subject to such other terms as the Board, in its sole discretion, may approve.